Bristlecone Advisors LLC Buys 9,735 Shares of Gladstone Land Co. (NASDAQ:LAND)

Bristlecone Advisors LLC raised its stake in Gladstone Land Co. (NASDAQ:LAND) by 40.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,747 shares of the real estate investment trust’s stock after acquiring an additional 9,735 shares during the period. Bristlecone Advisors LLC owned approximately 0.09% of Gladstone Land worth $469,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Signaturefd LLC raised its position in shares of Gladstone Land by 3,910.3% in the 2nd quarter. Signaturefd LLC now owns 3,128 shares of the real estate investment trust’s stock valued at $43,000 after buying an additional 3,050 shares in the last quarter. M&G Plc acquired a new position in Gladstone Land during the first quarter valued at approximately $138,000. LRI Investments LLC bought a new stake in Gladstone Land during the first quarter worth $152,000. SG Americas Securities LLC boosted its holdings in shares of Gladstone Land by 41.0% in the 3rd quarter. SG Americas Securities LLC now owns 12,280 shares of the real estate investment trust’s stock valued at $171,000 after purchasing an additional 3,572 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in shares of Gladstone Land by 9.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,864 shares of the real estate investment trust’s stock valued at $190,000 after purchasing an additional 1,172 shares during the last quarter. Institutional investors own 53.60% of the company’s stock.

Analyst Ratings Changes

Separately, Maxim Group lowered Gladstone Land from a “buy” rating to a “hold” rating in a research note on Monday, August 12th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Gladstone Land presently has an average rating of “Moderate Buy” and an average target price of $16.00.

Gladstone Land Stock Performance

NASDAQ LAND opened at $13.20 on Monday. The firm’s fifty day moving average price is $13.73 and its two-hundred day moving average price is $13.63. The stock has a market cap of $473.06 million, a PE ratio of 220.00, a PEG ratio of 4.28 and a beta of 1.07. The company has a debt-to-equity ratio of 0.78, a quick ratio of 4.43 and a current ratio of 4.43. Gladstone Land Co. has a fifty-two week low of $12.31 and a fifty-two week high of $15.36.

Gladstone Land Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 20th will be issued a $0.0467 dividend. The ex-dividend date of this dividend is Friday, December 20th. This represents a $0.56 dividend on an annualized basis and a yield of 4.25%. Gladstone Land’s payout ratio is presently 933.33%.

Gladstone Land Company Profile

Founded in 1997, Gladstone Land is a publicly traded real estate investment trust that acquires and owns farmland and farm-related properties located in major agricultural markets in the U.S. and leases its properties to unrelated third-party farmers. The Company, which reports the aggregate fair value of its farmland holdings on a quarterly basis, currently owns 169 farms, comprised of approximately 116,000 acres in 15 different states and over 45,000 acre-feet of banked water in California, valued at a total of approximately $1.6 billion.